American Rare Earths Limited reported certified, QA/QC-verified assay results from the first six of 18 HQ core holes in its 2026 Feasibility Study drilling program at the Cowboy State Mine, part of the Halleck Creek Rare Earths Project in Wyoming. The 386 geological assay intervals averaged 3,497 ppm total rare earth oxide (TREO), with a median of 3,879 ppm; 358 intervals, or approximately 93%, exceeded the company’s 1,000 ppm TREO resource cut-off. The highest single-sample result was 9,084 ppm TREO over 3.02 meters in hole HC26-RM051, while HC26-RM056 returned 191 meters of continuous mineralization at a weighted average of 3,951 ppm TREO. The results are consistent with the existing geological model of broad, near-surface, allanite-hosted mineralization at Red Mountain and will support ongoing Feasibility Study work, geological modelling and evaluation of Mineral Resource classification. Assay results from the remaining 12 holes are due as laboratory processing and technical reviews continue.